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Refinancing allows you to replace your current loan with a new one. By consolidating your debts (internal or external), you may request extra funds and save your money by paying off your loan with a new one that offers competitive conditions. Refinancing is available for personal loans only.

When considering refinancing, take a look at your current loan, as well as at your financial goals (like reducing monthly payments or additional funds). If you have a high interest rate on your current loan or you need some extra funds, you might want to consider refinancing.

As we start introducing a refinancing product in Italy, we're gradually expanding access to ensure a smooth experience for customers. If you don't see the option to apply for refinancing in the app, we'll notify you as soon as the product is available to you.

• You already have a personal loan with Revolut or with other financial institution
• You have a lower balance than the maximum amount Revolut can offer you
• Your current credit facilities are granted in the local currency (EUR) and aren't in arrears

If affordability assessment allows, you will be also given the option to borrow additional funds in the form of extra cash.

• For credit facilities with Revolut: the previous loan will be automatically closed and a new loan account will appear in-app as soon as the new refinancing loan is approved and disbursed, providing you with the new balance, repayment schedule, repayment date, etc.
• External credit facilities: the funds will be transferred to the account of your choosing, preferably to the external bank which holds your existing loan. You're obliged to use these funds to repay the original credit with the other financial institution
• Extra funds: we’ll disburse any extra funds you were eligible to receive together and successfully applied for with the refinancing loan credit to your Revolut account

When refinancing credit agreements issued by banks other than Revolut, you'll need to provide a few additional details in your credit application. For example, the bank account details or IBAN for the account with the financial institution where you have your existing loan(s).

You’ll also be responsible for settling and closing all your external credit account balances with the financial institutions you’ve chosen to refinance with.